TLDR:
Ethereum price holds steady near $3,600 despite recent dip, keeping its bullish structure intact.
RSI divergence signals hidden strength as ETH consolidates near major resistance.
Breakout above $3,600 could trigger a rally toward 0.618 and 0.786 Fibonacci levels.
Failure to clear resistance may force a retest of key support near the 200-day EMA.
Ethereum is locked in a critical range, and traders are watching closely. The price sits near $3,648 after a sharp 24-hour dip.
Support has held for weeks, but the next move depends on one level. A breakout could trigger a run to higher Fibonacci targets. If it fails, a slide to support is back on the table.
Ethereum Price Tests Resistance While Support Stays Firm
According to The Boss, Ethereum has respected a rising trend since 2022. The token is moving between strong resistance and Fibonacci-based support zones. He noted that ETH trades above the 200-day EMA, which supports a constructive technical outlook.
The MACD remains in a positive crossover, and RSI sits around 54, leaving room for upside. However,
The Boss cautioned that rejection from resistance could send ETH back to lower green support lines. Trading volume is still low, which means a true breakout would need stronger buying pressure.
🔷️ #ETH has been respecting a long-standing trend that has been in place since 2022. It continues to move within the channel shown by the blue line. This blue line represents a strong resistance level, which previously acted as a barrier to upward movement. If $ETH breaks above… pic.twitter.com/9x9WRQsgo4
— The Boss (@Crypto_TheBoss) August 1, 2025
Marcus Corvinus pointed out that Ethereum has shown hidden strength compared to Bitcoin. While Bitcoin dropped to a lower low, ETH held higher lows, showing resilience under pressure. He added that bearish volume has been fading, signaling weaker selling interest.
He also highlighted a hidden bullish divergence, where RSI printed a lower low while price held a higher low. Corvinus stated this pattern often leads to continuation, not reversal.
With RSI oversold recently but support holding, he believes consolidation near the top favors another leg up. He has set his targets for this cycle at $7K–$8K.
$ETH Hidden Bullish Power Brewing 🔥
Ethereum is playing a smarter game than Bitcoin right now. While BTC made a lower low… ETH held strong with higher lows. That’s not just price action it’s strength under pressure.
Here’s what’s unfolding:
1. Bearish volume fading since… pic.twitter.com/RclSje1YRu
— Marcus Corvinus (@CryptoBull009) August 1, 2025
Key ETH Price Levels Could Trigger the Next Move
Alex Clay noted that Ethereum has not yet cleared its key zone.
He explained that ETH recently broke out of a descending RSI channel but still needs a move above major resistance. He believes a confirmed breakout could drive price targets toward the 0.618 and 0.786 Fibonacci levels.
Clay also shared mid-term targets for ETH/BTC at 0.06595 and 0.09650. Until then, traders are watching for either a clean breakout or another retest of support.
For now, the $3,600 zone remains the battleground where Ethereum’s next move will be decided.
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